The fight against corruption and incompetence is nowhere to be seen

April 28, 2006

Corruption is so rampant in Venezuela that the SEC caught a US company paying PDVSA employees some US$ 348,000 in commissions. The company admitted that it had made the payments. Of course, nothing has been done on this end, because if someone were to be accused or fired the lid of the whole cesspool could become undone.

And speaking of corruption, how about the Cabinet’s lawyer Marisol Plaza who was fired while I was away. The reason? She gave a legal opinion two years ago that the infamous Bandagro bonds, which have never been recognized by any Venezuelan Government since they started floating around twenty years ago, were legitimate. This decision was later reversed, but is now the bases for a suit asking for the Government to pay US$ 1.3 billion for them. Reportedly, someone fed her the wrong information on purpose. Other say she was paid to give that opinion. If the Republic loses, will she just get a slap in the hand of fired for her incompetence

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